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Wednesday, October 6, 2010

Gold - Closing in on the top?

Impulsive count

Corrective count
Above I have showed two possible counts, but no matter which count is the correct one we are closing in on the top fast. I would expect the top to be found i the 1,363 - 1,378 area, with an outside chance of a rally as high as 1,405 before the top is finally in place.
I do have a preference for the corrective count, because of the triangle wave B count. I can accept the impulsive count too, but it's not the most beautiful count I have ever seen.

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